The Wood Pellets Global Market Report 2023, provides comprehensive information on the wood pellets market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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According to The Business Research Company’s 2023 Wood Pellets Global Market Report, the market has experienced significant growth. In the span of just one year, from 2022 to 2023, it expanded from $9.55 billion to a substantial $10.7 billion, reflecting a notable compound annual growth rate (CAGR) of 12.0%. This growth, however, occurred in the context of the Russia-Ukraine war, which disrupted global economic recovery efforts following the COVID-19 pandemic. The consequences of this conflict have been felt globally, resulting in economic sanctions imposed on several nations, surges in commodity prices, supply chain disruptions, and widespread inflation in both goods and services, impacting various markets worldwide.
Anticipating the future, the global wood pellets market is poised for continued expansion, with projections indicating a market size of $15.99 billion by 2027, showcasing a steady CAGR of 10.6%. This underscores the enduring potential and importance of wood pellets in the evolving energy landscape.
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Technological advancements have indeed surfaced as a prominent and burgeoning trend within the wood pellets market. Prominent industry players are actively engaged in the development of groundbreaking wood pellet boilers designed to minimize emissions of particulate matter, thereby cementing their market presence. A notable example in this regard is ÖkoFEN Forschungs- und Entwicklungs Ges.m.b.H., an Austria-based manufacturer of wood pellet boilers. In September 2020, ÖkoFEN unveiled a groundbreaking innovation: wood pellet boilers equipped with ZeroFlame combustion technology. This revolutionary advancement leverages a filter-free ZeroFlame combustion mechanism, resulting in a substantial reduction in particulate matter (PM) emissions.
This innovative technology seamlessly integrates specially guided airflow, air enrichment, and a unique combustion chamber design, collectively yielding a remarkable outcome. During combustion, the flame virtually vanishes, contributing to a remarkable reduction in particulate matter (PM) levels. In contrast to conventional pellet boiler systems currently available in the market, this breakthrough technology boasts a remarkable up to 95% reduction in PM emissions, potentially presenting a significant stride toward enhancing local air quality. These advancements in wood pellet boiler technology underline the industry’s commitment to sustainable and environmentally responsible solutions.
The wood pellets market is segmented:
1) By Feedstock: Forest And Wood Waste Resources, Agricultural Residue and Waste, Food Waste, Virgin Lumber, Energy Crops
2) By Production Process: Sawdust Preparation, Screening, Hammering, Pelletizing, Cooling And Packaging
3) By Application: Heating, Power Generation, Combined Heat And Power (CHP)
4) By End-User: Residential, Commercial, Industrial
Top Major Players:
Enviva Inc
Energex American Inc
Graanul Invest
Pinnacle Renewable Energy
Fram Fuels
Europe was the largest region in the wood pellets market in 2022.
The table of contents in TBRC’s wood pellets market report includes:
1. Executive Summary
2. Wood Pellets Market Characteristics
3. Wood Pellets Market Trends And Strategies
4. Wood Pellets Market – Macro Economic Scenario
5. Wood Pellets Market Size And Growth
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26. Africa Wood Pellets Market
27. Wood Pellets Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Wood Pellets Market
29. Wood Pellets Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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